document.write( "Question 1162646: for $20 you purchase a ticket that gives you a chance to win a $6000 boat. there are $2000 tickets being sold. what is the expected value of buying a ticket? \n" ); document.write( "

Algebra.Com's Answer #786478 by ikleyn(52884) $\"\"$ $\"About$

You can put this solution on YOUR website!
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document.write( "In all, there are   = 100 tickets.\r\n" );
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document.write( "The probability to win is   = 0.01.\r\n" );
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document.write( "The expected value of purchased ticket is  0.01*6000 - 20 = 60 - 20 = 40 dollars.    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "Pretty benefiting purchase (!)\r
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\n" ); document.write( "\n" ); document.write( "Urgently buy all 100 tickets for $2000; win the boat costing $6000 and then sell it via your web-site,\r
\n" ); document.write( "\n" ); document.write( "earning the difference of $4000 to your pocket.\r
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\n" ); document.write( "\n" ); document.write( "Tutor @greenestamps often allows himself to comment my solutions by arbitrary ways.\r
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\n" ); document.write( "\n" ); document.write( "When I solved this problem, I did not assume that it is nonsensical - I simply solved it \"as is\": \r
\n" ); document.write( "\n" ); document.write( "exactly as it was worded, printed, posted and presented.\r
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